St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-21
THE PRECIOUS METALS.
Production and Coinage of Gold
and Silver in This Country.

and Silver in This Country.
WASHINGTON, May 2O.-The report of
the director of the mint upon the pro-
duction of the precious metals in the
United States for the year 1886 is in
press and will soon be ready for distrl-
button. The director estimates the pro-
duction of the United States to have
been in 1886: Gold S35,000,000, silver
SOL, 100000. The value of the silver in
the above estimate is calculated at the
coming rate of silver in silver dollars,
namely, 1929 per ounce fine. The
production of silver was 80, 1882 fine
ounces of the commercial value, at the
average price of silver during the year
(namely about 81 per fine ounce OF $780,
1912. The production OF gold shows
an increase over the prior year of
S3,200,OO0. The production of silver
is slightly less than III 1885. A
tabular statement shows that the pro-
duction of silver in the United States
has largely increased from 1880, when it
was $50 100000 to S51, 100000 in 1886.
The years product of gold has approx
mated the maximum of the last seven
years. the product of 1880, which reached
S;336. OO0, eco, against S35, 900, 600 in 1886.
Colorado continues in first rank as the
largest producer of the precious me ais
in the United States, the value of rs
production of gold and silver having
been over S20,O00,000 during the last
year. California yields second place to
Montana with production OF nearly
ST, GOO, 900, against S16,000,000 by the
former. The production of Nevada and
New Mexico has decreased while that OF
the other states has remained almost
constant. Texas, for the first time is
added to the list of producing states,
with a production of 5000, COO i'll silver.
The annual supply of silver from the
mines of the world has largely in
creased in the last fourteen years-the:
period covered by the marked decline
in the market price of Silyer-hay1pg
doubled since 1872; that is, from S62,
100000 in that year to 1924 600 in
1886. During the calendar year 1886 the
changes i'll !.
THE PRICE OF SILVER
were very marked. Opening on the I'd
of January, 1886, at 46 15-l6 pence per
ounce, British standard, the fluctuations
were slight until April when there con-.
menced a rapid decline, which contTl-
ued to July 81, when the price OF silver
reached AZ pence, remaining at that
price until Aug. 10, when an advance
took place which continued until Nov.
10, WUeH lIt plICc ISdSllC1i 1' PShSS, DNo
remained at that point only short time.
The closing quotation on Dec. 81 was
46h pence. The average price for. the
year was 1914 pence, equivalent to
So. 1865 cents pere ounce fine. The price
of silver at the present time is 1875
pence per ounce, British standard,
equivalent to SO per ounce fine. The
value of the gold deposited at the minis
of the United States during the calendar
year 1886 was SO, 057, S1S, OF which over
S21 ,OOO, 900 consisted of foreign bullion
and over S9,000,000 foreign coin. The
deposits and purchases OF silver
amounted to $50, est, O70. The coinage
executed at the mintS during the cal
endar year consisted of 63, 739, 500 pieces
of the face value Of SCI, 375, 43S. The
number of silver dollars coined was
81 ,423, 1886, on which the SeignOrage was
81 ,095, 36l. The director estimates the
stock of coin in the United States on
Jan. /, 1887, to have been i'll round num-
bers, gold. $3.50, 00O, 900; silver, 1924, 000,-
600: total, 1851, 100000. In addition to
the stock of coin the government has
gold and silver bullion in the mint
awaiting coinage of the value Of: Gold,
SS1 400, 600; silver, S7,050,0 900; total, SSS,-
100000; total metallic stock on Jan.
l, 1887, of gold, $641, 400; silver, 1881, $780,
coo; total, S973, 100000. The director
presents official figures to show that TO
the stock of gold coin estimated to have
been in the United States on the first OF
the present year, there was in the
treasury of the United States
and in the national and state
banks and in circulation on
the Pacific slope $3.50, 100000, leaving
$500, 00O. 600 in the hands of the people
and in the banks and saving institutions
of the United States east of the Sierra
Neyadas other than national banks and
the $40 state banks which reported to the
comptroller of the currency. The stock
and the ownership of gold and silver
coins in the United States Jan. l. 1887,
is given as follows: United States
treasury, s1s6,9O1, 494; National banks,
s166, 993, $50; state and other banks and
private individuals, 1881, 156, SO4; total,
1885,, 051, S54. The total stock of paper
and metallic money in the United
States, the paper either redeemable i'll
coin or secured by bonds redeemable in
coin, amounted on Jan. l, 1887, to ST.
S7o Q1o orr